Sign of the times: Cars being abandoned
Foreclosures are a well documented economic problem. With the collapse of real estate, one has to wonder when repossessed cars will cont...
https://www.elkgrovenews.net/2008/11/sign-of-times-cars-being-abandoned.html
Foreclosures are a well documented economic problem. With the collapse of real estate, one has to wonder when repossessed cars will contribute to financial institution's woes.
Repossession figures are hard to gauge, but one can't help but wonder if all those SUV's that were plying the streets of Elk Grove were financed with phantom home equity. Today we noticed what appears to be an abandoned late-model SUV at an Elk Grove shopping center.
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What do you suppose is the penalty for stealing an abandoned vehicle? The owner isn't going to report it to the cops, that's for sure. The finance company might be looking for it, but it would be looking for the debtor, not the person who "found" the vehicle. Re-registering it would take some noodling, but it could be worked, I think. Biggest risk is the abandoer might have reported it stolen, but the court would have trouble getting around the concept of innocent finder. Probably the best thing to do is use it for a few months until you spot another abandoned vehicle and start over again with fresh transport.
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